Needham & Company LLC Issues Pessimistic Forecast for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL) had its target price cut by investment analysts at Needham & Company LLC from $25.00 to $24.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the athletic footwear retailer’s stock. Needham & Company LLC’s price objective indicates a potential upside of 14.86% from the company’s previous close.

Several other analysts also recently weighed in on FL. Piper Sandler lowered their price objective on Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Telsey Advisory Group lowered their price target on shares of Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday, December 5th. Morgan Stanley cut their price target on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, December 6th. Guggenheim lowered their price objective on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. Finally, Evercore ISI cut their target price on Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.94.

Foot Locker Price Performance

FL stock opened at $20.90 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. Foot Locker has a 52 week low of $19.33 and a 52 week high of $35.60. The firm’s fifty day moving average is $22.09 and its 200 day moving average is $25.04. The firm has a market cap of $1.98 billion, a P/E ratio of -4.63, a P/E/G ratio of 0.82 and a beta of 1.49.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the business posted $0.30 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts predict that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FL. Quarry LP purchased a new stake in shares of Foot Locker in the second quarter worth $31,000. Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 985 shares during the last quarter. nVerses Capital LLC bought a new stake in Foot Locker during the 3rd quarter valued at about $47,000. Wilmington Savings Fund Society FSB purchased a new position in Foot Locker in the third quarter worth about $58,000. Finally, R Squared Ltd bought a new position in shares of Foot Locker in the fourth quarter worth approximately $50,000.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.